Rising Smartphone Penetration: A Key Driver Transforming the Mobile Gaming Market 2024

The Business Research Company's Mobile Gaming Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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The mobile gaming market is on a fast track, with expectations to rise from $129.96 billion in 2023 to $149.53 billion in 2024, at a CAGR of 15.1%. This growth can be attributed to the widespread availability of smartphones and mobile devices, advancements in mobile graphics and processing capabilities, consistent mobile network connectivity, and the popularity of casual and hyper-casual games.

What Is the Estimated Growth Rate and Market Size of the Global Mobile Gaming Market?

The market is projected to see rapid growth, reaching $278.71 billion by 2028, at a CAGR of 16.8%. This growth is driven by the popularity of e-sports and competitive gaming, cross-platform gaming opportunities, and sustainability initiatives. Major trends to look out for include the integration of artificial intelligence (AI), the rise of app stores and digital distribution channels, in-app purchases and monetization strategies, and enhanced social features.

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What Is The Primary Growth Driver Of The Mobile Gaming Market?
The rising penetration of smartphones is anticipated to fuel the growth of the market. Smartphone usage is increasing for various reasons, including greater internet accessibility, the popularity of social media, convenient communication, the affordability of feature-rich phones, social status considerations, rising income levels, and a growing dependency on mobile devices. As smartphone penetration increases, demand for mobile gaming is expected to surge, as these devices are widely used for gaming and leisure activities. For instance, a survey conducted by the Pew Research Center indicated that smartphone ownership in the US rose from 81% in February 2019 to 85% in February 2021, up from just 35% a decade earlier in 2011. This trend demonstrates the growing smartphone penetration, which will drive growth in the market.

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Which Market Leaders Are Behind the Growth of the Mobile Gaming Market?
Major companies operating in the market report are Apple Inc., Google LLC, Microsoft Corporation, Tencent Holdings Limited, Sony Interactive Entertainment LLC, NetEase Inc., Nintendo Co Ltd., Bandai Namco Entertainment Inc., Activision Blizzard Inc, Electronic Arts Inc, CyberAgent Inc, Take-Two Interactive Software Inc., Square Enix Holdings Co Ltd., Zynga Inc., King Digital Entertainment Limited, Roblox Corporation, Ubisoft Entertainment SA, Supercell Oy, Playrix Holding Ltd, Niantic Inc., GungHo Online Entertainment Inc, GLU Mobile Inc., Bungie Inc., Voodoo SAS, Gameloft SE, Jam City Inc., Rovio Entertainment Corporation, Machine Zone Inc., Miniclip SA, Juego Studios LLP

What Key Trends Are Impacting The Size Of The Mobile Gaming Market?
The market is experiencing technological advancements with the integration of VR and AR technologies. In April 2022, Meta (formerly Facebook) unveiled Ghostbusters VR, allowing players to immerse themselves in a virtual ghost-hunting experience, enhancing engagement through single and multiplayer modes.

How Is The Global Mobile Gaming Market Segmented?
The mobile gaming market covered in this report is segmented –
1) By Device Type: Smartphone, Smartwatch, PDA, Tablet, Other Devices Types
2) By Operating System: Android, iOS, Windows, Other Operating Systems
3) By Genre: Action And Adventure, Arcade, Roleplaying, Sports, Other Genres
4) By Subscription: Free, Premium

Regional Insights: Asia-Pacific Paving the Way in the Mobile Gaming Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Mobile Gaming Market Definition
Mobile gaming encompasses games played on mobile devices such as smartphones and tablets, ranging from simple to complex titles, including 3D and augmented reality games that utilize internet connectivity.

The Mobile Gaming Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Mobile Gaming Market Report: Trends, Opportunities, Strategies, and More
The Mobile Gaming Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into mobile gaming market size, mobile gaming market drivers and trends, mobile gaming market major players, mobile gaming competitors' revenues, mobile gaming market positioning, and mobile gaming market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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The Business Research Company
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